The world's most-used cryptocurrency isn't bitcoin | Crypto Craft

  • The world's most-used cryptocurrency isn't bitcoin

    From smh.com.au

    What's the world's most widely used cryptocurrency? If you think it's bitcoin, which accounts for about 70 per cent of all the digital-asset world's market value, you're probably wrong. While concrete figures on trading volumes are hard to come by in this often murky corner of finance, data from CoinMarketCap.com show that the token with the highest daily and monthly trading volume is Tether, whose market capitalisation is more than 30 times smaller. Tether's volume surpassed that of bitcoin's for the first time in April and has consistently exceeded it since early August at about $US21 billion ($31.3 billion) per ... (full story)

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cryptocow
Oct 2, 2019 10:07pm
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This sums up Tether quite well:

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Tether is issued by a Hong Kong-based private company whose proprietors also own the Bitfinex crypto exchange. The exact mechanism by which Tether's supply is increased and decreased is unclear. Exactly how much of the supply is covered by fiat reserves is in question, too, as Tether is not independently audited. In April, Tether disclosed that 74 per cent of the Tethers are covered by cash and short-term securities, while it previously said it had a 100 per cent reserve.

And this sums up CoinMarketCap data:

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